Deficit worsens 56 million by April – TVI24

The general government deficit, in the view of public accounting, stood at 1.634 billion euros. An increase of 56 million over the same period 2015, says the Budget Directorate-General in a statement.

According to the DGO, “was value represents 29.7% predicted for the year as in 2015 for the same period accounted for 31%.

the primary balance turned out to encrypt in 1118 million positive, more 261 million over the same.

the office of the Minister of Finance says that spending growth by 0.7%, “was much lower than in the state budget (+ 5.7%).” This evolution was due to the increase in interest paid in 318 million, following the issuance of bonds in February 2015.

State collects more in taxes 367,800,000

revenue grew 0.5%, reflecting the increase tax government revenue by 3.5%, and revenue increase for the state at 3.2%, despite higher tax refunds at 219 million.

the document shows that state earned 11,866 million in taxes by April, plus 367.8 million euros in the same period 2015.

the increase in tax revenue resulted from the increase in indirect tax revenues (+ 7.6%) ., despite the contraction in revenue from direct taxes (-3%)

the decrease in direct tax revenue was due to the decrease in tax revenue on the income Collective (IRC) (- 23.4%) – “mainly explained by the change in taxation of IRC in investment funds” and “the different profile of intra-annual implementation of the contribution of income over the banking sector and the extraordinary contribution of the energy sector”.

in turn, the tax revenue of the Personal income tax (IRS) increased 0.8%.

the growth of indirect tax revenues (+ 7.6%) due was, on largely “behavior evidenced by tax on oil and energy products (ISP) (+ 29.3%) – justified in part by the rate increase – and Tobacco tax (+107, 5%) – explained by the normal low entrainment effect on consumption at the beginning of fiscal year 2015, which has not been matched in 2016 due to the entry into force of the only budget in late March “

. in turn, the tax value Added tax (VAT) was reduced by 2.7% (evolution still favorable compared to that recorded in the first quarter (-6.9%), “which resulted from the reduced value of repayments occurred in the first months of 2015, an effect that has been diluted. “

As for the social contributions increased 3.1%, to reveal the increase in contributions and contributions to social Security. “The non-tax and non-contributory revenue showed a time lag in payment of dividends from the Bank of Portugal,” adds the DGO.

Expenditure on staff grows

for its part, the primary expenditure of Central Government and Social Security remained virtually unchanged compared to the previous year, registering a growth of only 0.1%. The cost of procurement of goods and services decreased by 2.3% and personnel grew by 2.7% “partly explained by wage replacement,” explains the release.

“Excluding the intra-annual effects and inaccuracies in the report, the cost of 1.3% increase staff, “concludes the document protection.